Private health insurance reforms made simple



other new government reforms making your head spin here's a simple summary of how they might affect you the youth discount on hospital cover available from the 1st of April this one's doing it for the kids will sort of a sham will now offer discounts for members between the ages of 18 and 29 who take out hospital cover 18 to 25 year olds are eligible for a 10% discount 8% if you're 26 6% if you're 27 well you get the point to make things even simpler a youth discount is available on all hm Hospital covers and the icing on the cake as long as you maintain continuous hospital cover you'll keep the same discount until you turn 41 it'll then start decreasing by 2 percent each year on your birthday until it reaches 0 but that sounds like a problem for future you the new 750 excess on some Hospital covers available from the 1st of April in case you're wondering and access is the lump sum you pay upfront when you go to the hospital so a 750 excess option just means another way for you to control and reduce the cost of your Hospital premium we know our members love options so I'll be including this on a number of our Hospital products removing benefits towards some natural therapies on extras cover from the 1st of April all private health insurers will have to remove some natural therapy benefits from their extras products that means will no longer be able to pay these benefits but will still pay benefits towards a remedial massage exercise physiology Chinese medicine and acupuncture on eligible extras standard clinical categories on Hospital covers by the 1st of April 2020 comparing Hospital products can sometimes feel like comparing apples and bananas but not for long industry-wide standard clinical categories should start to make life easier when it comes time to compare from the 1st of April we'll begin updating some of our Hospital products to align with these new standard clinical categories and by April 1st 2020 they'll be used by all other Australian health insurers new hospital product categories by the 1st of a 2020 will also start updating some of our Hospital products to align with the government's new standard categories of gold silver bronze and basic the high the product category the more you get look out for the word plus if you're the type of person who likes to get a little more will begin introducing these across some of our hospital covers from the first of April this year and will become mandatory by the 1st of April 2020 that's just a quick look at each of the five upcoming reforms ahm the simple bit

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